Absolute Capital Correlations

AAMIX Fund

USD 12.10 0.03 0.25%

The current 90-days correlation between Absolute Capital Asset and Blackrock Exchange Portfolio is 0.92 (i.e., Almost no diversification). The correlation of Absolute Capital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Absolute Capital Correlation With Market

Almost no diversification

The correlation between Absolute Capital Asset and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Capital Asset and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Absolute Capital Asset. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Absolute Mutual Fund

1.0	AAMAX	Absolute Capital Asset	Pair Corr
1.0	AAMCX	Absolute Capital Asset	Pair Corr
1.0	ACMIX	Absolute Capital Defender	Pair Corr
1.0	ACMDX	Absolute Capital Defender	Pair Corr
1.0	ACMAX	Absolute Capital Defender	Pair Corr
0.97	PAALX	All Asset Fund	Pair Corr
0.97	PATRX	Pimco All Asset	Pair Corr
0.97	PAAIX	All Asset Fund	Pair Corr
0.97	PALPX	Pimco All Asset	Pair Corr
0.95	PASAX	All Asset Fund	Pair Corr
0.97	PASCX	All Asset Fund	Pair Corr
0.97	PAANX	Pimco All Asset	Pair Corr
0.94	PAUPX	Pimco All Asset	Pair Corr
0.95	PAUIX	Pimco All Asset	Pair Corr
0.77	GAAKX	Gmo Alternative Allo	Pair Corr
0.76	GAAGX	Gmo Alternative Allo	Pair Corr
0.68	GPBFX	Gmo E Plus	Pair Corr
1.0	NSFHX	Natixis Sustainable	Pair Corr
0.96	MPACX	Matthews Asia Growth	Pair Corr
1.0	MXCCX	Federated Max Cap	Pair Corr
0.72	QSPIX	Aqr Style Premia	Pair Corr
0.64	MCSHX	Mfs Commodity Strategy	Pair Corr
0.99	VEMPX	Vanguard Extended Market	Pair Corr
0.96	DVRJX	Mfs Global Alternative	Pair Corr
0.99	UTVGX	My529 Growth Index	Pair Corr
0.99	DDVRX	Delaware Value	Pair Corr
1.0	FRCYX	Fidelity Sustainable	Pair Corr
0.97	CCYIX	Columbia Acorn Inter	Pair Corr
0.95	TRIEX	Tiaa Cref International	Pair Corr
0.99	CLSPX	Columbia Mid Cap	Pair Corr
1.0	LINKX	Blackrock Lifepath Idx	Pair Corr
0.92	RGAVX	Rare Global Infrastr	Pair Corr
0.99	VSPVX	Vanguard Sp 500	Pair Corr

Moving against Absolute Mutual Fund

0.45

GPMFX

Guidepath Managed Futures

Pair Corr

Related Correlations Analysis

	STSEX	SNCAX	TIMTX	NSIOX	AEYXX	FMFXX	PMTXX
STSEX		0.94	0.82	0.7	0.0	0.79	0.72	STSEX
SNCAX	0.94		0.89	0.76	0.0	0.73	0.71	SNCAX
TIMTX	0.82	0.89		0.94	0.0	0.79	0.74	TIMTX
NSIOX	0.7	0.76	0.94		0.0	0.79	0.76	NSIOX
AEYXX	0.0	0.0	0.0	0.0		0.0	0.0	AEYXX
FMFXX	0.79	0.73	0.79	0.79	0.0		0.83	FMFXX
PMTXX	0.72	0.71	0.74	0.76	0.0	0.83		PMTXX
	STSEX	SNCAX	TIMTX	NSIOX	AEYXX	FMFXX	PMTXX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SNCAX	+ 0.94	STSEX
NSIOX	+ 0.94	TIMTX
TIMTX	+ 0.89	SNCAX
PMTXX	+ 0.83	FMFXX
TIMTX	+ 0.82	STSEX
FMFXX	+ 0.79	STSEX

High negative correlations

PMTXX	- 0.0	AEYXX
FMFXX	- 0.0	AEYXX
AEYXX	- 0.0	NSIOX
AEYXX	- 0.0	TIMTX
AEYXX	- 0.0	SNCAX
AEYXX	- 0.0	STSEX

Risk-Adjusted Indicators

There is a big difference between Absolute Mutual Fund performing well and Absolute Capital Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Absolute Capital's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
STSEX	0.57	0.07	0.04	0.22	0.45	(0.62)	1.60	(0.93)	3.33
SNCAX	0.09	0.01	(0.68)	0.58	0.00	(0.13)	0.22	(0.15)	0.89
TIMTX	0.14	0.00	(0.57)	0.02	0.13	(0.18)	0.29	(0.29)	0.97
NSIOX	0.17	(0.01)	(0.47)	(0.07)	0.20	(0.23)	0.32	(0.31)	1.35
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FMFXX	0.03	0.00	0.00	1.43	0.00	0.00	0.00	0.00	1.01
PMTXX	0.03	0.01	0.00	(3.32)	0.00	0.00	0.00	0.00	1.01

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